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Starting and mid-career salaries of bachelor’s degree
Chapter , Problem 97E(choose chapter or problem)
Problem 97E
Starting and mid-career salaries of bachelor’s degree graduates. PayScale, Inc., an online provider of global compensation data, recently conducted a survey of 1.2 million bachelor’s degree graduates with a minimum of 10 years of work experience. Three of the many variables measured by PayScale were the graduate’s starting salary, mid-career salary, and the college or university where they obtained their degree. A summary of the starting and mid-career salary data was reported in the Wall Street Journal (July 31, 2008). Descriptive statistics were provided for each of the over 300 colleges and universities that graduates attended. For example, graduates of the University of South Florida (USF) had a median starting salary of $41,100, a median mid-career salary of $71,100, and a mid-career 90th percentile salary of $131,000. Describe the salary distribution of USF bachelor’s degree graduates by interpreting each of these summary statistics.
Questions & Answers
QUESTION:
Problem 97E
Starting and mid-career salaries of bachelor’s degree graduates. PayScale, Inc., an online provider of global compensation data, recently conducted a survey of 1.2 million bachelor’s degree graduates with a minimum of 10 years of work experience. Three of the many variables measured by PayScale were the graduate’s starting salary, mid-career salary, and the college or university where they obtained their degree. A summary of the starting and mid-career salary data was reported in the Wall Street Journal (July 31, 2008). Descriptive statistics were provided for each of the over 300 colleges and universities that graduates attended. For example, graduates of the University of South Florida (USF) had a median starting salary of $41,100, a median mid-career salary of $71,100, and a mid-career 90th percentile salary of $131,000. Describe the salary distribution of USF bachelor’s degree graduates by interpreting each of these summary statistics.
ANSWER:
Solution:
Step 1 of 3:
The graduates of the university of south florida (USF) had a median starting salary of $41,100, a median mid- career salary of $71,100, and a mid-career 90th percentile salary of $ 131,000.
We have to describe the salary distribution of USF bachelor’s degree graduates by interpreting the summary statistics.